Fmr LLC Has $499.34 Million Stock Position in Crane NXT, Co. (NYSE:CXT)

Fmr LLC increased its position in Crane NXT, Co. (NYSE:CXT) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,576,731 shares of the company’s stock after purchasing an additional 336,765 shares during the quarter. Fmr LLC owned approximately 15.00% of Crane NXT worth $499,337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CXT. Conestoga Capital Advisors LLC acquired a new stake in Crane NXT in the fourth quarter worth about $31,517,000. Norges Bank bought a new position in Crane NXT during the fourth quarter worth about $26,754,000. Envestnet Asset Management Inc. boosted its holdings in Crane NXT by 185.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 180,409 shares of the company’s stock worth $10,503,000 after buying an additional 117,207 shares during the last quarter. Royce & Associates LP boosted its holdings in Crane NXT by 35.7% during the fourth quarter. Royce & Associates LP now owns 376,421 shares of the company’s stock worth $21,915,000 after buying an additional 98,936 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Crane NXT by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company’s stock worth $183,750,000 after buying an additional 72,992 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on CXT shares. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price on the stock. in a report on Tuesday, February 18th. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Stock Up 10.8 %

Shares of Crane NXT stock opened at $47.00 on Thursday. The business’s 50 day simple moving average is $54.74 and its 200 day simple moving average is $57.34. Crane NXT, Co. has a 52-week low of $41.54 and a 52-week high of $67.01. The firm has a market cap of $2.69 billion, a PE ratio of 14.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. On average, analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a dividend of $0.17 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.45%. Crane NXT’s payout ratio is 21.32%.

Crane NXT Company Profile

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.